Teppo Has the Fee Simple to a Piece of Land

question 27

Multiple Choice

Teppo has the fee simple to a piece of land called Blackacre.Laila has a mineral lease that allows her to extract oil from beneath Blackacre.Which of the following statements is TRUE?

• A)Since the courts no longer apply the "giant carrot theory," Laila did not really need a lease in order to legally extract oil from beneath Blackacre.
• B)Laila probably acquired her lease from the Crown.
• C)Teppo can prevent Laila from extracting oil from beneath Blackacre unless he already held the fee simple when she first acquired her lease.
• D)Laila owns the oil in question even if she has not yet built an oil well.
• E)A mineral lease cannot apply to oil, which is not a mineral.

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Definitions:

MINITAB Output

The results or output generated from analysis conducted using the MINITAB statistical software.

Regression Analysis

A set of statistical processes for estimating the relationships among variables, often used to predict the value of a dependent variable based on the value of one or more independent variables.

Least Squares

A mathematical method used in regression analysis to find the line of best fit for a set of data by minimizing the sum of the squares of the differences between the observed values and those predicted by the model.

Coefficient Of Correlation

A statistical measure that calculates the strength and direction of a linear relationship between two variables.